<Page>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
(Mark One)
/X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934
For the fiscal year ended December 31, 2002
OR
/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from _______________________ to ______________________
Commission file number: 0-25789
WORLD MONITOR TRUST--SERIES C
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 13-3985042
- --------------------------------------------------------------------------------
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
One New York Plaza, 13th Floor, New York, New York 10292
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 778-7866
Securities registered pursuant to Section 12(b) of the Act:
None
- -------------------------------------------------------------------------------
Securities registered pursuant to Section 12(g) of the Act:
Limited Interests
- -------------------------------------------------------------------------------
(Title of class)
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes CK No __
Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to the
best of Registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K [CK]
Indicate by check mark whether the Registrant is an accelerated filer (as
defined in Rule 12b-2 of the Securities Exchange Act of 1934). Yes __ No CK
DOCUMENTS INCORPORATED BY REFERENCE
Registrant's Annual Report to Interest holders for the year ended December
31, 2002 is incorporated by reference into Parts II and IV of this Annual Report
on Form 10-K
Index to exhibits can be found on pages 10 and 11.
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WORLD MONITOR TRUST--SERIES C
(a Delaware Business Trust)
TABLE OF CONTENTS
PART I PAGE
Item 1 Business......................................................................... 3
Item 2 Properties....................................................................... 4
Item 3 Legal Proceedings................................................................ 4
Item 4 Submission of Matters to a Vote of Interest Holders.............................. 4
<Caption>
PART II
Item 5 Market for the Registrant's Interests and Related Interest Holder Matters........ 4
Item 6 Selected Financial Data.......................................................... 5
Item 7 Management's Discussion and Analysis of Financial Condition and Results of
Operations..................................................................... 5
Item 7A Quantitative and Qualitative Disclosures About Market Risk....................... 5
Item 8 Financial Statements and Supplementary Data...................................... 5
Item 9 Changes in and Disagreements with Accountants on Accounting and Financial
Disclosure..................................................................... 6
<Caption>
PART III
Item 10 Directors and Executive Officers of the Registrant............................... 6
Item 11 Executive Compensation........................................................... 8
Item 12 Security Ownership of Certain Beneficial Owners and Management................... 8
Item 13 Certain Relationships and Related Transactions................................... 8
Item 14 Controls and Procedures.......................................................... 9
<Caption>
PART IV
Item 15 Exhibits, Financial Statement Schedules and Reports on Form 8-K.................. 10
Financial Statements and Financial Statement Schedules........................... 10
Exhibits......................................................................... 10
Reports on Form 8-K.............................................................. 11
SIGNATURES.................................................................................. 12
CERTIFICATIONS.............................................................................. 13
</Table>
2
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PART I
Item 1. Business
General
World Monitor Trust (the 'Trust') is a business trust organized under the
laws of Delaware on December 17, 1997. The Trust commenced trading operations on
June 10, 1998 and will terminate on December 31, 2047 unless terminated sooner
as provided in the Second Amended and Restated Declaration of Trust and Trust
Agreement (the 'Trust Agreement'). The Trust consists of three separate and
distinct series ('Series'): Series A, B and C. The assets of each Series are
segregated from those of the other Series, separately valued and independently
managed. Each Series was formed to engage in the speculative trading of a
diversified portfolio of futures, forward and options contracts, and may, from
time to time, engage in cash and spot transactions. The trustee of the Trust is
Wilmington Trust Company. The Trust's fiscal year for book and tax purposes ends
on December 31.
World Monitor Trust--Series C (the 'Registrant') is engaged solely in the
business of commodity futures and forward trading; therefore, presentation of
industry segment information is not applicable.
The Offering
Beneficial interests in each Series ('Interests') were offered once each week
until each Series' subscription maximum was met either through sale or exchange
or until the managing owner of the Registrant, Prudential Securities Futures
Management Inc. (the 'Managing Owner'), suspended the offering of Interests. On
June 10, 1998, a sufficient number of subscriptions for each Series had been
received and accepted by the Managing Owner to permit each Series to commence
trading. The Registrant completed its initial offering with gross proceeds of
$5,706,177 from the sale of 56,301.770 limited interests and 760 general
interests. General interests were sold exclusively to the Managing Owner.
World Monitor Trust--Series A ('Series A') was offered until it reached its
subscription maximum of $34,000,000 during November 1999. Interests in World
Monitor Trust--Series B ('Series B') and World Monitor Trust--Series C ('Series
C') were offered on a weekly basis at the then current net asset value per
Interest until the Managing Owner suspended the offering of Interests for each
Series ('Continuous Offering Period'). The Managing Owner suspended the offering
of Interests in Series B and Series C and allowed all selling registrations to
expire by April 30, 2002. As such, Interests owned in one Series of the Trust
may no longer be exchanged for Interests of one or more other Series. While the
Managing Owner does not anticipate doing so, it may, at its election, reinstate
the offering of Interests in Series B and Series C in the future.
During the Continuous Offering Period, the Registrant raised additional gross
proceeds of $18,027,985 from the sale of Interests.
Managing Owner and its Affiliates
The Managing Owner of the Registrant is a wholly-owned subsidiary of
Prudential Securities Incorporated ('PSI'), which, in turn, is an indirect
wholly-owned subsidiary of Prudential Financial, Inc. ('Prudential'). PSI is the
selling agent for the Registrant, as well as its commodity broker. In February
2003, Prudential and Wachovia Corp. ('Wachovia') announced an agreement to
combine each company's respective retail securities brokerage and clearing
operations within a new firm, which will be headquartered in Richmond, Virginia.
Under the agreement, Prudential will have a 38% ownership interest in the new
firm and Wachovia will own 62%. The transaction, which includes the securities
brokerage, securities clearing, and debt capital markets operations of PSI, but
does not include the equity sales, trading and research operations or commodity
brokerage and derivative operations of PSI, is anticipated to close in the third
quarter of 2003. The Managing Owner, as well as the commodity broker, will
continue to be indirect wholly-owned subsidiaries of Prudential.
The Managing Owner is required to maintain at least a 1% interest in the
capital, profits and losses of each Series so long as it is acting as the
Managing Owner.
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The Trading Advisor
Each Series has its own independent commodity trading advisor that makes that
Series' trading decisions. As of June 7, 2000, Hyman Beck & Company, Inc.
('Hyman Beck') ceased to serve as a trading advisor to the Registrant. The
advisory agreement among the Registrant, the Managing Owner and Hyman Beck was
automatically terminated when the assets allocated to Hyman Beck declined by
greater than 33 1/3% from their initial allocation on June 10, 1998.
On November 13, 2000, the Managing Owner entered into a new advisory
agreement with Northfield Trading L.P. (the 'Trading Advisor'), an independent
commodities trading advisor, to make the trading decisions for the Registrant.
The new advisory agreement may be terminated for various reasons, including at
the discretion of the Managing Owner. The management fee paid to the Trading
Advisor equals 0.0385% of the Registrant's allocated assets determined as of the
close of business each Friday (an annual rate of 2%), the same as was previously
paid to Hyman Beck. The quarterly incentive fee paid to the Trading Advisor
equals 20% of the 'New High Net Trading Profits' as defined in the advisory
agreement among the Registrant, the Managing Owner and the Trading Advisor, as
compared to 23% paid to Hyman Beck. Additionally, the Trading Advisor must
recoup the cumulative trading losses of Hyman Beck before it is paid an
incentive fee. Furthermore, since Series C's assets were not allocated to
commodities trading from June 8, 2000 until the new Trading Advisor began
trading, Series C was not subject to management fees or commissions during that
period.
The Managing Owner has allocated 100% of the proceeds from the initial and
continuous offering of the Registrant to the Trading Advisor.
Competition
The Managing Owner and its affiliates have formed, and may continue to form,
various entities to engage in the speculative trading of futures, forward and
options contracts which have certain of the same investment policies as the
Registrant.
The Registrant was an open-end fund which solicited the sale of additional
Interests on a weekly basis until the Managing Owner suspended the offering of
Interests. See Section 1, Business, for more information on the suspension of
the offering of Interests. In addition, to the extent that the Trading Advisor
recommends similar or identical trades to the Registrant and other accounts
which it manages, the Registrant may compete with those accounts for the
execution of the same or similar trades, as well as with other market
participants.
Employees
The Registrant has no employees. Management and administrative services for
the Registrant are performed by the Managing Owner and its affiliates pursuant
to the Trust Agreement, as further discussed in Notes A, C and D to the
Registrant's financial statements included in its annual report to limited
owners for the year ended December 31, 2002 (the 'Registrant's 2002 Annual
Report'), which is filed as an exhibit hereto.
Item 2. Properties
The Registrant does not own or lease any property.
Item 3. Legal Proceedings
There are no material legal proceedings pending by or against the Registrant
or the Managing Owner.
Item 4. Submission of Matters to a Vote of Interest Holders
None
PART II
Item 5. Market for the Registrant's Interests and Related Interest Holder
Matters
Information with respect to the offering of Interests and the use of proceeds
is incorporated by reference to Note A to the Registrant's 2002 Annual Report,
which is filed as an exhibit hereto.
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A significant secondary market for the Interests has not developed, and it
is not expected that one will develop in the future. There are also certain
restrictions set forth in the Trust Agreement limiting the ability of an
Interest holder to transfer Interests. However, Interests may be redeemed on a
weekly basis, but are subject to a redemption fee if transacted within one year
of the effective date of purchase. The Managing Owner has suspended the offering
of Interests in the Trust and, as such, Interests owned in one Series of the
Trust may no longer be exchanged for Interests of one or more other Series (as
further discussed in Item 1, Business). Redemptions are calculated based on the
applicable Series' then current net asset value per Interest as of the close of
business on the Friday immediately preceding the week in which the exchange or
redemption request is effected.
The Registrant did not sell any unregistered interests (i.e. general
interests) exempt from registration under Section 4(2) of the Securities Act of
1933 during the year ended December 31, 2002.
There are no material restrictions upon the Registrant's present or future
ability to make distributions in accordance with the provisions of the Trust
Agreement. No distributions have been made since inception and no distributions
are anticipated in the future.
As of March 21, 2003, there were 622 holders of record owning 53,513.253
Interests which include 613 general interests.
Item 6. Selected Financial Data
The following table presents selected financial data of the Registrant. This
data should be read in conjunction with the financial statements of the
Registrant and the notes thereto on pages 2 through 10 of the Registrant's 2002
Annual Report, which is filed as an exhibit hereto.
<Table>
<Caption>
Period from
June 10, 1998
(commencement of
Year ended December 31, operations) to
------------------------------------------------------- December 31,
2002 2001 2000 1999 1998
---------- ----------- ----------- ----------- -----------------
Total revenues (including
interest) $1,105,501 $ (769,077) $(1,829,920) $ 68,782 $ 1,011,204
---------- ----------- ----------- ----------- -----------------
---------- ----------- ----------- ----------- -----------------
Net income (loss) $ 596,792 $(1,533,203) $(2,573,344) $(1,680,118) $ 465,857
---------- ----------- ----------- ----------- -----------------
---------- ----------- ----------- ----------- -----------------
Net income (loss) per
weighted average Interest $ 9.14 $ (17.34) $ (17.03) $ (10.83) $ 5.80
---------- ----------- ----------- ----------- -----------------
---------- ----------- ----------- ----------- -----------------
Total assets $4,694,636 $ 5,685,845 $ 9,850,243 $18,684,023 $11,384,130
---------- ----------- ----------- ----------- -----------------
---------- ----------- ----------- ----------- -----------------
Net asset value per
Interest $ 83.61 $ 74.67 $ 93.28 $ 95.98 $ 104.22
---------- ----------- ----------- ----------- -----------------
---------- ----------- ----------- ----------- -----------------
</Table>
Item 7. Management's Discussion and Analysis of Financial Condition and Results
of Operations
This information is incorporated by reference to pages 12 through 14 of the
Registrant's 2002 Annual Report, which is filed as an exhibit hereto.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk
Information regarding quantitative and qualitative disclosures about market
risk is not required pursuant to Item 305(e) of Regulation S-K.
Item 8. Financial Statements and Supplementary Data
The financial statements are incorporated by reference to pages 2 through 10
of the Registrant's 2002 Annual Report, which is filed as an exhibit hereto.
5
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Selected unaudited quarterly financial data for the years ended December 31,
2002 and 2001 are summarized below:
<Table>
<Caption>
For the period For the period
For the period For the period from June 29, from September
from January 1, from March 30, 2002 to 28, 2002 to
2002 to March 2002 to June 28, September 27, December 31,
29, 2002 2002 2002 2002
---------------- ----------------- --------------- ---------------
Total Revenues (including
interest) $476,963 $ 268,969 $ 216,927 $ 142,642
---------------- ----------------- --------------- ---------------
---------------- ----------------- --------------- ---------------
Total Revenues (including
interest) less
commissions $371,963 $ 164,346 $ 117,817 $ 47,205
---------------- ----------------- --------------- ---------------
---------------- ----------------- --------------- ---------------
Net income $344,803 $ 137,288 $ 92,181 $ 22,520
---------------- ----------------- --------------- ---------------
---------------- ----------------- --------------- ---------------
Net income per weighted
average Interest $ 4.69 $ 1.99 $ 1.47 $ 0.40
---------------- ----------------- --------------- ---------------
---------------- ----------------- --------------- ---------------
</Table>
<Table>
<Caption>
For the period For the period
For the period For the period from June 30, from September
from January 1, from March 31, 2001 to 29, 2001 to
2001 to March 2001 to June 29, September 28, December 31,
30, 2001 2001 2001 2001
---------------- ----------------- --------------- ---------------
Total Revenues (including
interest) $302,683 $(552,416) $ 592,386 $(1,111,730)
---------------- ----------------- --------------- ---------------
---------------- ----------------- --------------- ---------------
Total Revenues (including
interest) less
commissions $126,890 $(709,480) $ 449,616 $(1,243,180)
---------------- ----------------- --------------- ---------------
---------------- ----------------- --------------- ---------------
Net income (loss) $ 81,392 $(750,105) $ 412,689 $(1,277,179)
---------------- ----------------- --------------- ---------------
---------------- ----------------- --------------- ---------------
Net income (loss) per
weighted average Interest $ 0.80 $ (8.18) $ 5.00 $ (16.41)
---------------- ----------------- --------------- ---------------
---------------- ----------------- --------------- ---------------
</Table>
Item 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure
None
PART III
Item 10. Directors and Executive Officers of the Registrant
There are no directors or executive officers of the Registrant. The
Registrant is managed by the Managing Owner.
The Managing Owner's directors and executive officers and any person holding
more than ten percent of the Registrant's Interests ('Ten Percent Owners') are
required to report their initial ownership of such Interests and any subsequent
changes in that ownership to the Securities and Exchange Commission (the 'SEC')
on Forms 3, 4 or 5. Such executive officers, directors and Ten Percent Owners
are required by the SEC regulations to furnish the Registrant with copies of all
Forms 3, 4 or 5 they file. All of these filing requirements were satisfied on a
timely basis. In making these disclosures, the Registrant has relied solely on
written representations of the Managing Owner's directors and executive officers
and Ten Percent Owners or copies of the reports that they have filed with the
SEC during and with respect to its most recent fiscal year.
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The directors and executive officers of the Managing Owner and their
positions with respect to the Registrant are as follows:
Name Position
Alex H. Ladouceur Chairman of the Board of Directors and Director
Eleanor L. Thomas President and Director
Steven Weinreb Treasurer and Chief Financial Officer
Guy S. Scarpaci Director
Tamara B. Wright Senior Vice President and Director
Thomas T. Bales Vice President
Paul Waldman Secretary
ALEX H. LADOUCEUR, born 1960, has been Chairman of the Board of Directors
and a Director of the Managing Owner since November 2001 and also has held such
positions with Seaport Futures Management, Inc. ('Seaport Futures'), an
affiliate of the Managing Owner, since such date. Mr. Ladouceur joined PSI in
August 2001 and is an Executive Vice President and Head of the Global
Derivatives Division. He is responsible for all operating activities of PSI's
Global Derivatives Division including sales and trading, foreign exchange, base
and precious metals, and the trading floors. Mr. Ladouceur joined PSI from
Credit Lyonnais Rouse Ltd. ('CLR'), where he served as president of their United
States operations since 1992 and as a main board director of CLR in London since
1994. In 1998, he was appointed managing director of Global Cash Markets at CLR
with responsibility for leading global market-making and sales for OTC products,
including structured derivative products. Mr. Ladouceur earned his bachelor's
degree in Economics from the University of Calgary in Alberta, Canada, and his
master's degree in European Studies from the College of Europe in Bruges,
Belgium.
ELEANOR L. THOMAS, born 1954, has been a Director and President of the
Managing Owner since September 2000 and was a Director and Executive Vice
President from April 1999 to September 2000. She was a First Vice President of
the Managing Owner and Seaport Futures from October 1998 to April 1999 and a
Director and the President of Seaport Futures since such date. Ms. Thomas is a
Senior Vice President and the Director of Alternative Investment Strategies at
PSI. She is responsible for origination, asset allocation, due diligence,
marketing and sales for the group's product offerings. Prior to joining PSI in
March 1993, she was with MC Baldwin Financial Company from June 1990 through
February 1993 and Arthur Andersen & Co. from 1986 through May 1990. She
graduated Summa Cum Laude from Long Island University with a B.A. in English
Literature, and graduated Baruch College in 1986 with an M.B.A. in Accounting.
Ms. Thomas is a Certified Public Accountant.
STEVEN WEINREB, born 1962, became the Treasurer and Chief Financial Officer
of the Managing Owner in May 2002, at which time he also became the Treasurer
and Chief Financial Officer of Seaport Futures. He is a Senior Vice President
and Controller of PSI. Prior to joining PSI in May 1991, he was with the public
accounting firms Deloitte & Touche from 1986 to 1991 and from 1984 to 1986 with
Laventhol & Horwath. Mr. Weinreb graduated in 1984 from the State University of
New York at Albany with a B.S. in Accounting. Mr. Weinreb is a Certified Public
Accountant.
GUY S. SCARPACI, born 1947, has been a Director of the Managing Owner since
July 1987 and was Assistant Treasurer from May 1988 until December 1989. In
addition, Mr. Scarpaci has been a Director of Seaport Futures since May 1989.
Mr. Scarpaci was first affiliated with the Managing Owner in July 1987. Mr.
Scarpaci has been employed by PSI in positions of increasing responsibility
since August 1974, and he is currently a Senior Vice President of the Global
Derivatives division.
TAMARA B. WRIGHT, born 1959, has been a Senior Vice President of the Managing
Owner and Seaport Futures since October 1998 and a Director of the Managing
Owner since December 1998. She is also a Senior Vice President and the Chief
Administrative Officer for the International Division at PSI. In this capacity,
her responsibilities include financial management, risk management, systems
implementation, employment matters and internal control policies and procedures.
Previously, Mrs. Wright served as Director of Consumer Markets Risk Management,
where she led the Domestic and International Branch efforts in
7
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ensuring the timely resolution of audit, compliance and legal concerns. Prior
to joining the firm, Mrs. Wright was a manager with PricewaterhouseCoopers LLP
in its Management Consulting division in New York, New York.
THOMAS T. BALES, born 1959, is a Vice President of the Managing Owner. He is
also a Senior Vice President of Futures Administration in the Global Derivatives
division for PSI, and he serves in various capacities for other affiliated
companies. Prior to joining the Global Derivatives division, Mr. Bales served as
in-house counsel in the Law Department of PSI from October 1987 through May
1996. Mr. Bales joined PSI in November 1981 as an Analyst in the Credit Analysis
Department and later served as a Section Manager.
PAUL WALDMAN, born 1957, became the Secretary of the Managing Owner in
November 2002, at which time he also became the Secretary of Seaport Futures.
Prior to being elected Secretary, Mr. Waldman had served as Assistant Secretary
for both the Managing Owner and Seaport Futures since December 1997. He is a
First Vice President and Associate General Counsel of PSI. Mr. Waldman is
responsible for the day-to-day corporate governance of PSI and its subsidiary
companies. Prior to joining PSI in September 1988, Mr. Waldman worked for E.A.
Sheslow & Co., a specialist firm on the NYSE and American Stock Exchange in
1986, and for F.P. Quinn & Co., a member firm of the Chicago Board Options
Exchange, from 1984 to 1985. Mr. Waldman received a B.A. in Journalism from the
University of Georgia in 1979, an M.A. in Political Science from Boston
University in 1981, and a Juris Doctor from New York Law School in 1992. He is
admitted to the New York and Connecticut bars.
Effective May 2002, Steven Weinreb was elected by the Board of Directors of
the Managing Owner as Chief Financial Officer replacing Barbara Brooks.
Effective November 2002, Paul Waldman was elected by the Board of Directors
of the Managing Owner as Secretary replacing David Buchalter.
There are no family relationships among any of the foregoing directors or
executive officers. All of the foregoing directors and/or executive officers
have indefinite terms.
Item 11. Executive Compensation
The Registrant does not pay or accrue any fees, salaries or any other form of
compensation to directors and officers of the Managing Owner for their services.
Certain directors and officers of the Managing Owner receive compensation from
affiliates of the Managing Owner, not from the Registrant, for services
performed for various affiliated entities, which may include services performed
for the Registrant; however, the Managing Owner believes that any compensation
attributable to services performed for the Registrant is immaterial. (See also
Item 13, Certain Relationships and Related Transactions, for information
regarding compensation to the Managing Owner.)
Item 12. Security Ownership of Certain Beneficial Owners and Management
As of March 21, 2003, no director or executive officer of the Managing Owner
owns directly or beneficially any interest in the voting securities of the
Managing Owner.
As of March 21, 2003, no director or executive officer of the Managing Owner
owns directly or beneficially any of the Interests issued by the Registrant.
As of March 21, 2003, no owners of limited interests beneficially own more
than five percent (5%) of the limited interests issued by the Registrant.
Item 13. Certain Relationships and Related Transactions
The Registrant has and will continue to have certain relationships with the
Managing Owner and its affiliates. However there have been no direct financial
transactions between the Registrant and the directors or officers of the
Managing Owner.
Reference is made to Notes A, C and D to the financial statements in the
Registrant's 2002 Annual Report, which is filed as an exhibit hereto, which
identify the related parties and discuss the services provided by these parties
and the amounts paid or payable, if any, for their services.
8
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Item 14. Controls and Procedures
Within the 90 days prior to the date of this report, the Managing Owner
carried out an evaluation, under the supervision and with the participation of
the officers of the Managing Owner, including the Managing Owner's Chief
Executive Officer and Chief Financial Officer, of the effectiveness of the
design and operation of the Registrant's disclosure controls and procedures.
Based upon that evaluation, the Managing Owner's Chief Executive Officer and
Chief Financial Officer concluded that the Registrant's disclosure controls and
procedures are effective. There were no significant changes in the Registrant's
internal controls or in other factors that could significantly affect these
controls subsequent to the date of their evaluation.
9
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PART IV
<Table>
<Caption>
Annual Report
Page Number
-------------
Item 15. Exhibits, Financial Statement Schedules and Reports on Form 8-K
(a) 1. Financial Statements and Report of Independent Accountants--incorporated
by reference to the Registrant's 2002 Annual Report, which is filed as
an exhibit hereto
Report of Independent Accountants 2
Financial Statements:
Statements of Financial Condition--December 31, 2002 and 2001 3
Condensed Schedules of Investments--At December 31, 2002 and 2001 4
Statements of Operations--Three years ended December 31, 2002 5
Statements of Changes in Trust Capital--Three years ended December 31,
2002 5
Notes to Financial Statements 6
2. Financial Statement Schedules
All schedules have been omitted because they are not applicable or the
required information is included in the financial statements or notes
thereto.
3. Exhibits
Description:
3.1 Second Amended and Restated Declaration of Trust and Trust Agreement of
and World Monitor Trust dated as of March 17, 1998 (incorporated by
4.1 reference to Exhibits 3.1 and 4.1 to the Registrant's Registration
Statement on Form S-1, File No. 333-43043, dated as of March 23, 1998)
4.2 Form of Request for Redemption (incorporated by reference to Exhibit 4.2
to the Registrant's Registration Statement on Form S-1, File No.
333-43043, dated as of March 23, 1998)
4.3 Form of Exchange Request (incorporated by reference to Exhibit 4.3 to
the Registrant's Registration Statement on Form S-1, File No. 333-43043,
dated as of March 23, 1998)
4.4 Form of Subscription Agreement (incorporated by reference to Exhibit 4.4
to the Registrant's Registration Statement on Form S-1, File No.
333-43043, dated as of March 23, 1998)
10.1 Form of Escrow Agreement among the Trust, Prudential Securities Futures
Management Inc., Prudential Securities Incorporated and The Bank of New
York (incorporated by reference to Exhibit 10.1 to the Registrant's
Registration Statement on Form S-1, File No. 333-43043, dated as of
March 23, 1998)
10.2 Form of Brokerage Agreement between the Trust and Prudential Securities
Incorporated (incorporated by reference to Exhibit 10.2 to the
Registrant's Registration Statement on Form S-1, File No. 333-43043,
dated as of March 23, 1998)
</Table>
10
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<Table>
10.3 Form of Advisory Agreement among the Registrant, Prudential Securities
Futures Management Inc., and Hyman Beck (incorporated by reference to
Exhibit 10.3 to the Registrant's Registration Statement on Form S-1,
File No. 333-43043, dated as of March 23, 1998)
10.4 Form of Representation Agreement Concerning the Registration Statement
and the Prospectus among the Registrant, Prudential Securities Futures
Management Inc., Prudential Securities Incorporated, Wilmington Trust
Company and the Trading Advisor (incorporated by reference to Exhibit
10.4 to the Registrant's Registration Statement on Form S-1, File No.
333-43043, dated as of March 23, 1998)
10.5 Form of Net Worth Agreement between Prudential Securities Futures
Management Inc. and Prudential Securities Group Inc. (incorporated by
reference to Exhibit 10.5 to the Registrant's Registration Statement on
Form S-1, File No. 333-43043, dated as of March 23, 1998)
10.6 Form of Foreign Currency Addendum to Brokerage Agreement between the
Trust and Prudential Securities Incorporated (incorporated by reference
to Exhibit 10.6 to the Registrant's Quarterly Report on Form 10-Q, File
No. 333-43043, for the quarter ended March 31, 1998)
10.7 Form of Amended and Restated Advisory Agreement dated October 31, 2000
among the Registrant, Prudential Securities Futures Management Inc. and
Northfield Trading L.P. (incorporated by reference to Exhibit 10.7 to
the Registrant's Form 10-K, File No. 0-25789, for the year ended
December 31, 2000)
13.1 Registrant's 2002 Annual Report (with the exception of the information
and data incorporated by reference in Items 5, 7 and 8 of this Annual
Report on Form 10-K, no other information or data appearing in the
Registrant's 2002 Annual Report is to be deemed filed as part of this
report) (filed herewith)
99.1 Certificate pursuant to 18 U.S.C. Section 1350 as adopted pursuant to
Section 906 of the SARBANES-OXLEY Act of 2002 (filed herewith)
(b) Reports on Form 8-K--None
</Table>
11
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.
World Monitor Trust--Series C
By: Prudential Securities Futures Management Inc.
A Delaware corporation, Managing Owner
By: /s/ Steven Weinreb Date: March 28, 2003
----------------------------------------
Steven Weinreb
Treasurer and Chief Financial Officer
Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
Registrant and in the capacities (with respect to the Managing Owner) and on
the dates indicated.
By: Prudential Securities Futures Management Inc.
A Delaware corporation, Managing Owner
By: /s/ Alex H. Ladouceur Date: March 28, 2003
-----------------------------------------
Alex H. Ladouceur
Chairman of the Board of Directors and
Director
By: /s/ Eleanor L. Thomas Date: March 28, 2003
-----------------------------------------
Eleanor L. Thomas
President and Director
By: /s/ Steven Weinreb Date: March 28, 2003
-----------------------------------------
Steven Weinreb
Treasurer and Chief Financial Officer
(chief accounting officer)
By: /s/ Guy S. Scarpaci Date: March 28, 2003
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Guy S. Scarpaci
Director
By: Date:
-----------------------------------------
Tamara B. Wright
Senior Vice President and Director
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CERTIFICATIONS
I, Eleanor L. Thomas, certify that:
1. I have reviewed this annual report on Form 10-K of World Monitor
Trust--Series C ('Series C');
2. Based on my knowledge, this annual report does not contain any untrue
statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which
such statements were made, not misleading with respect to the period
covered by this annual report;
3. Based on my knowledge, the financial statements, and other financial
information included in this annual report, fairly present in all
material respects the financial condition, results of operations and
cash flows of Series C as of, and for, the periods presented in this
annual report;
4. Series C's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as
defined in Exchange Act Rules 13a-14 and 15d-14) for Series C and we
have:
a) designed such disclosure controls and procedures to ensure
that material information relating to Series C, including its
consolidated subsidiaries, is made known to us by others
within those entities, particularly during the period in
which this annual report is being prepared;
b) evaluated the effectiveness of Series C's disclosure controls
and procedures as of a date within 90 days prior to the
filing date of this annual report (the 'Evaluation Date');
and
c) presented in this annual report our conclusions about the
effectiveness of the disclosure controls and procedures based
on our evaluation as of the Evaluation Date;
5. Series C's other certifying officers and I have disclosed, based on our
most recent evaluation, to Series C's auditors and the board of
directors of the managing owner of Series C:
a) all significant deficiencies in the design or operation of
internal controls which could adversely affect Series C's
ability to record, process, summarize and report financial
data and have identified for Series C's auditors any material
weaknesses in internal controls; and
b) any fraud, whether or not material, that involves management
or other employees who have a significant role in Series C's
internal controls; and
6. Series C's other certifying officers and I have indicated in this annual
report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal
controls subsequent to the date of our most recent evaluation, including
any corrective actions with regard to significant deficiencies and
material weaknesses.
Date: March 28, 2003 /s/ Eleanor L. Thomas
-------------------------------------
Eleanor L. Thomas
President (chief executive officer)
of the managing owner of Series C
13
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I, Steven Weinreb, certify that:
1. I have reviewed this annual report on Form 10-K of World Monitor
Trust--Series C ('Series C');
2. Based on my knowledge, this annual report does not contain any untrue
statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which
such statements were made, not misleading with respect to the period
covered by this annual report;
3. Based on my knowledge, the financial statements, and other financial
information included in this annual report, fairly present in all
material respects the financial condition, results of operations and
cash flows of Series C as of, and for, the periods presented in this
annual report;
4. Series C's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as
defined in Exchange Act Rules 13a-14 and 15d-14) for Series C and we
have:
a) designed such disclosure controls and procedures to ensure
that material information relating to Series C, including its
consolidated subsidiaries, is made known to us by others
within those entities, particularly during the period in
which this annual report is being prepared;
b) evaluated the effectiveness of Series C's disclosure controls
and procedures as of a date within 90 days prior to the
filing date of this annual report (the 'Evaluation Date');
and
c) presented in this annual report our conclusions about the
effectiveness of the disclosure controls and procedures based
on our evaluation as of the Evaluation Date;
5. Series C's other certifying officers and I have disclosed, based on our
most recent evaluation, to Series C's auditors and the board of
directors of the managing owner of Series C:
a) all significant deficiencies in the design or operation of
internal controls which could adversely affect Series C's
ability to record, process, summarize and report financial
data and have identified for Series C's auditors any material
weaknesses in internal controls; and
b) any fraud, whether or not material, that involves management
or other employees who have a significant role in Series C's
internal controls; and
6. Series C's other certifying officers and I have indicated in this annual
report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal
controls subsequent to the date of our most recent evaluation, including
any corrective actions with regard to significant deficiencies and
material weaknesses.
Date: March 28, 2003 /s/ Steven Weinreb
-------------------------------------
Steven Weinreb
Chief Financial Officer
of the managing owner of Series C
14